January 10, 2023
United States:
Inflation’s Path From Peak Is Next Big Question for US Economy
The question that obsessed financial markets last year was when and where US inflation would peak. The 2023 version will likely be how far, and how fast, it comes down.
Economists may not see eye-to-eye on the answer — but they more or less agree about where to look for it.
Europe:
Goldman No Longer Sees Euro-Area Recession as It Lifts Outlook
Economists at Goldman Sachs no longer predict a euro-zone recession after the economy proved more resilient at the end of 2022, natural gas prices fell sharply and China abandoned Covid-19 restrictions earlier than anticipated.
Asia:
China Deflation Pressure Worsens as Economy Slumps, Survey Shows
Deflationary pressure in China worsened in the fourth quarter as the economy slumped, with price-growth likely to be subdued even when the economy rebounds later this year, according to China Beige Book International.
Companies recorded the weakest growth in wages and input costs in the final three months of 2022 since mid-2020, CBBI said in a report Tuesday. Growth in sale prices also slowed to the worst level since late 2020, it said.
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